Indonesia's Peer-to-Peer Lending Disbursement Value Decreases in November 2023

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Cindy Mutia Annur 01/02/2024 10:03 WIB

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The Financial Services Authority (OJK) report shows a decline in the disbursement value of fintech lending, also known as online loans (pinjol), in Indonesia towards the end of 2023.

Value of Peer-to-Peer Lending Disbursements in Indonesia (November 2022-November 2023)

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Value of Peer-to-Peer Lending Disbursements in Indonesia (November 2022-November 2023)

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A report from the Financial Services Authority (OJK) shows that the disbursement value of fintech lending, or online loans (pinjol), in Indonesia decreased towards the end of 2023.

The value of pinjol disbursement in November 2023 reached Rp21.76 trillion, down 3.59% month-on-month (mom) from Rp22.57 trillion in the previous month.

However, compared to a year ago, national pinjol disbursement in November 2023 increased by 14.77% year-on-year (yoy).

Pinjol disbursement in November 2023 reached 9.86 million borrower accounts. However, the number of borrowers decreased by 3.24% month-on-month (mom).

The majority, or 7.58 million borrower accounts, originated from Java Island, equivalent to 76.88% of the total national borrowers.

Of the total loan value in November, Rp7.41 trillion, or 34.08%, went to the productive sector.

The largest recipient of pinjol in the productive sector was the wholesale and retail trade sector, at Rp2.88 trillion.

Furthermore, Rp239.44 billion went to the agriculture, forestry, and fisheries sector; Rp75.76 billion to the manufacturing industry sector; and Rp789.44 billion to the accommodation and food service sector.

In November 2023, the collaborative disbursement by institutional lenders (super lenders) came from 88 conventional financial institutions, with a value of Rp8.33 trillion.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."